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The PBM Racket: How CVS, Cigna, and UnitedHealth Extracted $116 Billion From Your Prescriptions

prescription pill bottles extreme price tags pharmacist counting pills pharmacy counter investigative journalism

Pharmacy benefit managers — CVS Caremark, Express Scripts, and OptumRx — extract an estimated $116 billion annually from U.S. drug supply chains through spread pricing, retroactive clawbacks, and vertical integration. The FTC called it 'deeply troubling.' Here's how the scheme works and why Congress won't fix it.

Commercial Real Estate Collapse 2026: $1.5 Trillion in Debt, 22% Vacancy, and Your Pension Is Holding the Bag

US office vacancy rate chart rising from 12 percent 2019 to 22 percent 2026 commercial real estate collapse

The commercial real estate collapse of 2026 is structural, not cyclical. Office vacancy hit 22.4 percent, $1.5 trillion in CMBS matures at rates 3x the original issuance, and your pension fund is holding 8-12 percent in assets losing value every quarter. Here is the full breakdown.

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